Critical Resources Confirms Orogenic Gold System at Cap Burn, NZ

Initial Drilling Validates Exploration Model

Critical Resources Limited (ASX:CRR) has delivered encouraging results from its first-pass reverse circulation (RC) drilling program at the Cap Burn Gold Project, located in the Otago region of New Zealand. The shallow drilling campaign has confirmed the presence of a broad, structurally controlled orogenic gold system associated with the Cap Burn Fault, a significant structural corridor approximately 11 kilometres along strike from OceanaGold’s prolific Macraes gold camp.

The drilling intersected gold mineralisation within the TZ4 schist unit, a geological package analogous to that controlling the Rise and Shine discovery by Santana Minerals. Key intercepts include 7 metres at 0.37 grams per tonne (g/t) gold, including a higher-grade 1 metre interval at 1.29 g/t, and a 16 metre zone at 0.22 g/t gold. These results align with the company’s exploration model, which targets structurally controlled mineralisation beneath a strong arsenic-in-soil anomaly.

Geochemical Footprint and Structural Continuity

A standout feature of the Cap Burn system is the coherent arsenic anomaly exceeding 20 parts per million (ppm) over an area greater than one square kilometre. This geochemical signature is closely associated with gold mineralisation and provides a compelling vector for ongoing exploration. The spatial correlation between gold and arsenic is consistent with an orogenic hydrothermal system, similar to other major deposits in the Otago Schist Belt.

Drilling to date has only tested a small portion of the approximately 10-kilometre strike length of the Cap Burn Fault corridor. Mineralisation remains open both along strike and at depth, with several holes terminated in mineralisation due to groundwater inflow and rig capacity constraints. This leaves the down-plunge extensions beneath the fault largely untested, representing a prime target for the next phase of exploration.

Strategic Location and Next Steps

Cap Burn’s proximity to OceanaGold’s Macraes operation and geological similarities to the Rise and Shine deposit underscore its potential. The project sits within one of New Zealand’s most active and proven gold provinces, with a history of alluvial gold workings along the fault corridor.

Critical Resources plans to advance the project with a focused follow-up program commencing in the second quarter of 2026. This will include step-out drilling at depth and along strike, expanded soil geochemistry surveys to refine arsenic anomalies, and detailed structural mapping to better understand controls on mineralisation. The company aims to test the untested down-plunge zone where higher-grade shoots may develop.

Managing Director Tim Wither highlighted the significance of the results, noting the strong arsenic-gold association and the large scale of the system. He emphasised that the current drilling represents only the shallow expression of a potentially much larger mineralised system, with the down-plunge target remaining a key focus.